The Voluntary Provision Of Public Goods? The Turnpike Companies Of Early America
AbstractThe turnpike companies of early America (roughly 1795-1840) were very unprofitable, but conferred vast benefits to communities served. Purchasing stock was like paying for the road since such purchases were necessary to complete the road and unprofitability was foreseen. Thus, the turnpikes would appear to have been public goods. Yet, hundreds of turnpikes were provided through voluntary association. The free rider problem was overcome by an almost vigilant impulse to participate and to see that your neighbor did likewise. Copyright 1990 by Oxford University Press.
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Bibliographic InfoPaper provided by California Irvine - School of Social Sciences in its series Papers with number 89-08.
Length: 27 pages
Date of creation: 1989
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historical analysis ; enterprises;
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- Klein, Daniel B, 1990. "The Voluntary Provision of Public Goods? The Turnpike Companies of Early America," Economic Inquiry, Western Economic Association International, vol. 28(4), pages 788-812, October.
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